Published: 19 January 2024
Generative AI technology profoundly impacts conversational AI platforms, augmenting the expertise of these tools beyond novice-level understanding and leading to superior intelligence. Product leaders must plan now to avoid competitive threats and take advantage of transient opportunities.
The best-case scenario from the market risk projection highlights that revenue contribution of generative AI (prebuilt) capabilities to conversational AI (CAI) platforms will reach $84.8 billion in 2033, up from $6.9 billion in 2022 with a compound annual growth rate (CAGR) of 25.5%. Generative AI (GenAI)-enabled revenue contribution will surpass traditional AI-enabled conversational solution revenue by 2027.
The conversational AI market has been disrupted by GenAI, leading to a significant number of vendors repositioning and market consolidation.
Buyer confusion and trepidation about security, privacy and regulations will continue to impede the rapid integration of GenAI capabilities in conversational AI over
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